Framework to Improve Subsurface Data Quality

Framework to Improve Subsurface Data Quality

In the complicated world of oil and gas, data quality is paramount. Subsurface data plays a crucial role in decision-making and regulatory compliance. Operators are seeing the importance of better assuring data as trustworthy, discoverable, and more accessible across the organisation and with a perspective toward wider obligations and objectives which include regulatory compliance and making data freely more available to academia, industry, and others. However, the industry still faces significant challenges in managing this vital asset. In this blog post, we will explore the problem, understand its root causes, and discover how the Verifi’s Governance framework is changing the way we handle Subsurface data.

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Incorrect or Inappropriate Data

Two major issues within the industry:

1. Incorrect Data Sent to the Regulator: This can lead to potential compliance issues, fines, and a loss of trust and reputation.
2. Low Confidence in Decisions Made on Subsurface Data: Poor data quality can lead to incorrect analyses and misguided decisions.

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The Complexity of Subsurface Data

Subsurface data sets are constantly growing, becoming more complex and diverse, often spanning into new areas of the business. Managing and maintaining this data in a cohesive manner requires specialised resources. Additionally, multiple disciplines and users create and store data inconsistently, often without approved standards or definitions. This inconsistency leads to the problems mentioned above.

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Verifi’s Governance Framework

The Verifi team, with years of experience in Subsurface data management and governance, offers a robust solution. Their established Governance framework can be leveraged via the Verifi platform to help businesses and assets introduce or further improve Subsurface Data Governance. Here's how:

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• Improved Understanding of Data Quality: Analytics and dashboards driven by data rule metrics and KPIs provide clear insights.
• Decreased Data Management Costs: Efficient governance reduces expenses related to data handling.
• Increased Access and Trust in Data: Enhanced quality and consistency lead to increased confidence in decision-making.
• Compliance Assurance: Ensuring that the appropriate data is handed over to the regulator or stored consistently in in-house corporate repositories.

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Conclusion

The challenges of Subsurface data quality are real and pressing, but they are not insurmountable. With the right tools and expertise, businesses can transform their approach to data management. The Verifi Governance framework offers a proven, effective solution that can be tailored to the unique needs of each operator.

Embrace a future where data is not just a resource but a strategic asset that drives decision-making, ensures compliance, and builds trust. The Verifi Governance team is here to guide you on this journey, offering a clear path to improved Subsurface data quality.

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